The “Green Packaging Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Green Packaging Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global green packaging market size was US$ 215.4 billion in 2021. The global green packaging market is forecast to grow to US$ 381.3 billion by 2030 by growing at a compound annual growth rate (CAGR) of 7.9% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
According to a study by the United States, Environmental Protection Agency (EPA,) packaging creates nearly 77.9 tons of municipal solid waste per year. Thus, it raises significant concerns, which will upsurge the demand for green packaging in the coming years.
Favorable initiatives by government bodies to ban plastic are expected to benefit the green packaging market. For instance, the European Parliament issued a law to ban single-use plastic in the region.
Rising awareness about the harmful impact of plastic will encourage people to adopt environmentally friendly packaging solutions. As a result, it will fuel the growth of the global green packaging market.
Growing advancements and the launch of innovative packaging products will benefit the global green packaging market. For instance, Sonoco Protective Solutions, a division of Sonoco, unveiled its addition of two new paper-based packaging options in 2020. In addition, UFLEX LIMITED unveiled its fast cure laminating adhesive for the flexible packaging industry in 2021. Such advancements are forecast to boost the growth of the global green packaging industry.
COVID-19 Impact Analysis
The sudden onset of the COVID-19 pandemic has negatively affected various businesses. Various governments shifted their focus to the healthcare segment. Furthermore, the sudden increase in online shopping surged the demand for cost-friendly packaging solutions. As a result, the use of plastics increased again. Moreover, various studies suggested that the virus can be transmitted through cardboard and plastic, which reduced the use of eco-friendly packaging solutions. Thus, the global COVID-19 pandemic negatively influenced the green packaging industry.
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Regional Analysis
The Asia-Pacific green packaging market is forecast to emerge as the largest market, owing to the rapidly growing population. In addition, the rising shift towards online shopping is expected to benefit the overall regional market. In addition, growing plastic waste and increasing initiatives from governments will upsurge the demand for eco-friendly solutions.
Europe is forecast to hold a significant share due to stringent regulations banning plastic use. Furthermore, the packaging manufacturing industry is forecast to be the largest contributor to the growth of this regional green packaging market.
Market Segmentation
The global green packaging market segmentation focuses on Packaging, End-Users, and Region.
By Type of Packaging Outlook
- Recycled Content Packaging
- Paper
- Metal
- Plastic
- Glass
- Reusable Packaging
- Drums
- Plastic Containers
- Intermediate Bulk Container
- Other Reusable Packaging
- Degradable Packaging
By End-Users Outlook
- Food
- Beverage
- Pharmaceutical
- Personal Care
- Other End-user Industry
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By Regional Outlook
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Competitors in the Market, Key players profiled in the global green packaging market include,Amcor Limited, Mondi Limited, Sealed Air Corporation, TetraPak International SA, Ardagh Group Co., PlastiPak Holdings, Inc., Bemis Company, Inc, Uflex limited, ELOPAK AS, Other Prominent Players
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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